Banking Uniform Write Off Code 04 16 2014

So that the bank write off procedure is in a uniform, objective and nondiscretionary code. Whereby there are also special considerations for the write off of related party loans.
The Uniform write off code to include detailed documentation of why the loan went bad in terms of contrast to the reason and premises that the loan was made on! And indeed receipts in relation to how the money of the loan was spent in relation to how it was to be spent. Failure of the bank to provide a list of premises the loan was made on voids the bank charter to lend in the future!
In cases of lending fraud the banking employees are liable to forfeiture of personal assets.
Failure to follow and document the Uniform Write Off Code results in the bank that made the bad loan paying the amount of the write off to the United States Government.
In background to the rationale for the Uniform Write Off Code; Banks should be considered to serve a meaningful and productive function with regard to lending money in our democracy. So that it doesn’t happen that the citizen ends up giving them money to stay afloat when it was indeed their function that the economy of the United States was maintained through astute and forward thinking lending!
Thomas Paul Murphy